Tuesday, June 29, 2010

Satish Betadpur: Buy L&T and GMDC

Satish Betadpur, CFA, Global Research Director, Independent International Investment Research PLC, spoke to ET Now on stocks.

Anything that has caught your eye in trade today? Something that's corrected downward sharply, that looks like a good buy? Alternately, something that you buy in order to book profits out of?

What looks attractive for us today is L&T. If you were to take advantage of the 3% odd downturn today, one should buy that. The other stocks that we like, which is kind of contrarian to some extent, is GMDC, because nobody really likes minerals at this point and this one gets batted down because of that, but they are really not into iron ore exports or anything like that in a significant way.

They are a coking coal producer and that's where most of their profits come in from and also there are domestic story pretty much. So that's something which we like, which has corrected a bit and so we believe that's a good attractive story. Our other favourites have always been Opto Circuits, Everest Kanto Cylinders. There are more but those are the names that come to my head at this point.

Source: economictimes.indiatimes.com

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